Canopy Growth Corporation pops, Macy's drops, KMG Chemical surges

Canopy Growth Corporation (CGC): Constellation Brands, the beverage maker, will invest $4 billion in Canopy, which is a diversified cannabis company based in Canada.

Macy’s (M): The department store operator beat on earnings and revenue, and upped its guidance – however sales were still lower than a year ago, and same store sales growth was only up 0.5%.

KMG Chemicals (KMG): Cabot Microelectronics will acquire KMG Chemicals, a provider of specialty chemicals and performance materials, for $1.6 billion in cash and stock. The combined company is expected to have annual revenues of approximately $1 billion.

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